Levy of penalty u/s 271(1)(c) - appellant wrongly claimed loss ...

Penalty u/s 271(1)(c) deleted: Misclassified capital loss as business loss, but no income concealment found.

August 17, 2018

Case Laws Income Tax HC

Levy of penalty u/s 271(1)(c) - appellant wrongly claimed loss by debiting it to P & L Account on account of loss on sale of assets whereas the same was capital loss and not business loss. - Levy of penalty deleted as there is no concealment of income

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Levy of penalty u/s 271(1)(c) - appellant wrongly claimed loss ...

Penalty u/s 271(1)(c) deleted: Misclassified capital loss as business loss, but no income concealment found.

August 17, 2018

Case Laws Income Tax HC

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